Stock market ends subdued

The Colombo stock market ended the week on a subdued note with a turnover of only Rs. 1 billion and the two indices moving north and south though marginally.

“Indices remained mostly flat today as selling pressure continued against the bullish sentiment that prevailed over the past couple of days. JKH continued to attract foreign investors,” NDB Stockbrokers said.

However it said the indices ended the week on a positive note with ASPI and MPI gaining 4.6% and 3.5% respectively.

Diversified and Bank Finance & Insurance sectors were the highest contributors to the market turnover while both sector indices decreased by 0.31% and 0.32% respectively.

Premier conglomerate John Keells Holdings made the highest contribution to the market turnover with two crossings of 419,200 shares at Rs 301. The share price increased by Rs 0.30 (0.10%) and closed at Rs 300.50. Foreign holding of the company increased by 351,400 shares.

Touchwood Investment also contributed significantly to the market turnover while the share price declined by Rs 2.80 (8.48%) and closed at Rs 30.

NDB Stockbrokers said rupee depreciated slightly as the exchange rate was recorded at Rs 111.37 – 111.40 per US $.

It also said secondary market Treasury bond yields increased marginally, while the market activity was dull.